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Materials Up On Trade-Deal Repercussions, But Alcoa Weakens — Materials Roundup

Producers of metals and other raw materials rose on continued optimism about the growth implications of a trade deal.

Alcoa shares slid after the aluminum maker posted a fourth-quarter loss and a surprisingly sharp 27% depletion in sales. Shares tested multiyear lows even as Alcoa said demand for the metal was set to rise by more than 2% this year.

Shares of paint maker PPG Industries fell slightly after it warned that sales this year would be hurt by weak industrial demand in the U.S. and Europe, reflecting, in part, the struggles at PPG's customer Boeing.

Cocoa futures hit near two-year highs as the repercussions of "living cost differential" surcharges implemented by major producers Ghana and Ivory Coast for farmer well-being continue to ripple through global markets.

Write to Rob Curran at rob.curran@dowjones.com

 

(END) Dow Jones Newswires

January 16, 2020 16:30 ET (21:30 GMT)

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